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As far as I know, shells don't expire, but if you're reloading shot shells, you don't want to reuse them too many times. And, you want to re-use high quality stuff. Like the ultra premium stuff...Federal AA's, or better. If you're shooting clays, you're cheaper to just buy the cheap stuff, and don't re-use it. You'll save about $0.15/box that way. If you're shooting the high quality stuff to begin with, you'll be able to save anywhere from $1.50/box on up, and you'll get a higher quality load, and you can customize it.
If you're shooting other centerfire stuff, reloading becomes a lot more cost effective. We didn't sit down and do the math on this, like we did on shot shells, but we do know that it's more favorable. And, as you probably know, you can't reload rimfire...like .22LR.
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Generally speaking, if you were to get what you really deserve, you might be unpleasantly surprised.
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